My partner and I are selling our house in Kingsbridge and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A local lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed an internet conveyancing practice rather than a conveyancing solicitor in Kingsbridge. Having lived in Kingsbridge for 5 years we know of no issue. Should we contact our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Despite weeks of looking the Title Certificate and documents to our house are lost. The solicitors who conducted the conveyancing in Kingsbridge 5 years ago no longer exist. What are my next steps?
You no longer need to hold title original deeds to evidence that you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
How does conveyancing in Kingsbridge differ for newly converted properties?
Most buyers of new build premises in Kingsbridge approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because developers in Kingsbridge usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kingsbridge or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Kingsbridge is where the house is located. Can you shed any light on this issue?
Flying freeholds in Kingsbridge are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Kingsbridge you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kingsbridge may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Do you have any top tips for leasehold conveyancing in Kingsbridge with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Kingsbridge can be avoided where you instruct lawyers as soon as your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers’ representatives. If you have the benefit of shareholding in the freehold, you should make sure that you have the original share document. Arranging a duplicate share certificate can be a time consuming process and delays many a Kingsbridge conveyancing deal. Where a new share is necessary, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity. Many landlords or managing agents in Kingsbridge charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most common cause of delay in leasehold conveyancing in Kingsbridge. You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
I own a 2 bed flat in Kingsbridge, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Kingsbridge with an extended lease are worth £191,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2077
With 53 years left to run we estimate the premium for your lease extension to be between £27,600 and £31,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.